Kim Phillips Appraisals upholds the highest professional ethics
We think of our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
For an appraiser the chief responsibility is to their client. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you want a copy of the appraisal document, you normally have to request it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Kim Phillips Appraisals, we take these ethical responsibilities very seriously.
Kim Phillips Appraisals has an established reputation for completing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers will regularly need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Kim Phillips Appraisals makes a part of their standard routine.
We demand the highest professional integrity possible from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite appraisal fraud since raising the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines a violation in ethics as accepting of an assignment that is contingent on "the reporting of a pre-determined result (e.g., opinion of value)," "a direction in assignment results that favors the cause of the client," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.
With Kim Phillips Appraisals, you can be assured of 100 percent ethical, professional service.